Ahead of TradeTech FX this week, State Street’s FX Connect has announced it will integrate new liquidity venue LoopFX into its platform later this year.
LoopFX is a new liquidity venue for large spot FX trades that centralises peer-to-peer matching with bank interest. This will enable traders to identify, in real-time, matches of large trades in excess of US$10 million with other buy side institutions, while providing banks a new secure channel to show their market axes.
Blair Hawthorne, founder and CEO of LoopFX, said: “As a trader myself, I know what a valuable platform FX Connect is for practitioners and I could not be more thrilled to be working with the FX Connect team.”
Built as an open architecture technology, LoopFX is designed to integrate into current workflows on existing trading platforms. The integration with FX Connect is LoopFX’s first major integration to an FX trading platform.
Kate Lowe, head of GlobalLink FX for State Street, said: “For more than 20 years, FX Connect has shown its willingness to adopt new approaches and work with distinctive new services we are confident will benefit our customers. LoopFX fits well with our philosophy and we look forward to seamlessly integrating the Loop FX platform into existing FX Connect workflows later this year.”
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